Modern-day fantasy adventure centers on Dr. Parnassus (Plummer), who has the gift of guiding the imaginations of others. With his traveling theater troupe, Parnassus offers audience members the chance to transcend reality by passing through a magical mirror.

Gilliam penned the screenplay with writing partner Charles McKeown.

Shooting will begin in December in London and then move to Vancouver.

William Vince (“Capote”), Amy Gilliam and Hadida are producing. Mandate Intl. will present the film to buyers at AFM.

Davis Film is working on “Solomon Kane,” starring James Purefoy, and is in development on a “Silent Hill” sequel. The third installment in Constantin/Davis’ “Resident Evil” franchise, “Resident Evil: Extinction,” is in theaters. Other films produced under Hadida’s Davis banner include the Tony Scott actioner “Domino,” starring Keira Knightley.

Ledger and Gilliam worked together previously on “The Brothers Grimm.”